In California, owners of more than 3 million properties with mortgages have at least 50 percent equity in their homes, according to an analysis by ATTOM Data Solutions looking at home equity at the end of the first quarter.
The state ranks second in the U.S., with 41.5 percent of all properties with a mortgage considered “equity rich.” The analysis is based on a home’s estimated market value.
Altogether, U.S. states, including the District of Columbia, had more than 13.8 million properties were equity rich at the end of March. That includes a quarter of all properties with a mortgage, which is a percentage point higher than at the end of the first quarter last year.
ATTOM Data Solutions lacked enough data for some states to rank their home equity numbers.
Home mortgage equity rankings
|State||Q1 2018 Equity Rich||Q1 2018 Percent Equity Rich|
|District of Columbia||32,409||30.9%|